Online EPF Registration | EPF Registration Certificate | EPF process and documents
Stride Post
July 18, 2022
Business
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Online EPF Registration
Contact JR Compliance – Delhi’s leading compliance service provider and complete an online EPF registration certificate by maintaining the transparency. To know more about online EPF registration process, contact our EPF registration consultant immediately.
We make the EPF registration process unchallenging to ensure customer satisfaction. Get your EPF certificate online now. Click here to know more about online EPF registration.
What is Employees’ Provident Fund Registration?
Employee’s Provident Fund (EPF) came into existence with the Employees’ Provident Fund Ordinance declaration on 15th November 1951. Moreover, it was replaced by the Employees’ Provident Funds Bill, 1952.
Further, in 1952 Employees’ Provident Funds Bill was acquainted with Parliament to provide provident funds to the employees working in factories and other establishments. The Act is known as the Employees’ Provident Funds and Miscellaneous Act, 1952.
Who administers the Acts and Scheme under the Employees’ Provident Funds and Miscellaneous Act, 1952?
The Acts and Scheme under Employees Provident Funds and Miscellaneous Act are regulated by the tripartite board, which includes Centre Board of Trustees, Employees’ Provident Funds comprising representatives of Central or State government, Employers and Employees.
What is the mission of the Employees’ Provident Fund (EPR)?
The mission of the Employees’ Provident Fund is to widen its scope and quality of publicly controlled old age security programs by ensuring consistency and ameliorating the standards of compliance.
Benefits of EPF Registration
Under Section 80C, employees’ contributing to the employee provident fund avails the benefit of exemption in tax and continues to earn the interest rate even if it has been dormant for the past three years.
Also, after five years of consistent service, the employees’ provident fund withdrawal is non-taxable unless the employer terminates the employees or if employees quit the job willingly.
Under the Employees Deposit Linked Insurance (EDLI) Scheme (insurance cover provided by EPFO), certain benefits are being promised to the employees. For instance, if an employee is registered under the same, an insured is liable to receive a lump-sum amount at the time of the insured person’s death during the period of service.
Additionally, EPFO has increased the minimum limit of insurance to Rs 2.45 lakh from Rs 1.45 lakh. Thus, the maximum benefit is Rs 6 lakh.
Above all, an employee does not even have to fill an application form to be a member of the EDLI scheme because an employee’s provident fund account automatically becomes liable for this scheme.
Under the Employees’ Pension Scheme,1995, ten years of contributory membership provides a lifetime pension. Further, both employer and employees contribute to the employees’ provident funds, out of which some percentage is diverted towards the Employment Pension Scheme.
Though EPFO is firmly against the withdrawal of money from the provident fund, its motive is to provide social security benefits, not bank account facilities. Yet, it allows its members to make a partial withdrawal after five to ten years to meet particular needs, including home loan repayment, medical expenses, and unemployment.
As per the revised scheme, the benefits will be 20 times the deposits or wages made in the employees’ provident funds, whichever is less. Further, as the wages ceiling increased to Rs 15,000 from Rs 6,500, the maximum benefit amount will be Rs 3 lakh, and an extra benefit amount of 20% is also paid.
Our Role in EPF Registration Process
Our EPF registration consultant will assist you throughout the online EPF registration process to avoid inaccuracy.
Our EPF registration consultant will assist you in documentation for online EPF registration certificate to ensure appropriate submission of documents because, as mentioned, submission of inaccurate information can result in any action against the applicant under provisions of the Act.
Our EPF registration consultants guarantee to provide you with complete assistance in fulfilling eligibility criteria as prescribed.
Our EPF registration consultant guarantees to ensure proper follow-ups and acknowledgment by directly coordinating with officials to ensure accuracy in EPF registration process.
To maintain realistic expectations, our EPF registration consultant will provide you with complete clarity regarding the online EPF registration process.
Our EPF registration consultant will provide the most satisfactory solution to all your concerns regarding online EPF registration process.
Conclusion
As you can see, the EPF registration process is tedious and can be perplexing for establishments because it requires knowledge and expertise to complete the online EPF registration process. Else, action can be taken against you if you have filled or affixed the inaccurate information or documents.
Therefore, for expertise, knowledge, and experienced, you must contact our EPF registration consultant to avail of our exemplary services. JR Compliance – an award winning compliance service provider guarantees to provide you with prompt online EPF registration certificate services by ensuring the convenience of our clients.
Hence, for expert and professional services, contact our EPF registration consultant immediately for EPF registration process.
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